The Grib Diamond Mine: Geology, Ecology and Industrial Safety

Gennady Piven, First Deputy General Manager of AGD Diamonds JSC, talks about his work at the diamond fields in Yakutia and in the Arkhangelsk Province.

10 december 2018

I have a dream to see India become a world leader in high-end jewellery manufacturing - Sanjay Kothari

An industry leader who needs no introduction to the gem and jewellery industry is Sanjay Kothari…the former chairman of the GJEPC of India has held various positions in the Council including being Convener-Exhibitions for many years before becoming Convener-Promotions...

03 december 2018

Style always reflects culture

Reena Ahluwalia is a multifaceted artist …an award-winning jewelry designer, diamond painter, professor, speaker and a community builder and more. Recognized as one of the Top Masters of Jewelry Design and art in Canada, she has been creating jewelry...

26 november 2018

Botswana Diamonds’ Campbell on Alrosa exit: no exploration JV lasts forever

Botswana Diamonds is currently in talks with a major diamond producer interested in taking over a stake in Sunland Minerals previously owned by Alrosa. The Sunland joint venture was established in 2014 to test existing Alrosa exploration technology on...

19 november 2018

If real gems are replaced by artificial stones, it is not the difference in value that sellers may cheat you out, but the very idea that you are to obtain along with a jewelry piece made from a genuine stone

Elena Titova is the Director of the All-Russian Decorative Art Museum. The museum, which she heads, was founded fairly recently (less than 40 years ago), but it is one of the most popular and stylish museums of Moscow, famous, among other things...

12 november 2018

Mountain Province declares dividend

10 august 2018

Mountain Province Diamonds said it has decided to declare a dividend of 4 cents per share following a “good” performance of the mine and cash reserves that stood at C$33.5 million as at June 30, 2018, a C$4.8 million increase from the prior quarter balance of C$28.7 million.

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Image credit: Mountain Province


“The company's policy is to manage down the debt levels and to pay reasonable dividends based on available cashflows,” said Mountain Province chief executive Stuart Brown.
“The level of future dividends may go up or down dependent on these cashflows which are strongly linked to realised diamond prices as well as the covenants relating to dividend declarations under the revolving credit facility and the secured notes payable conditions. "
The company was also set to generate significant positive cash flows for the second half of the year as cash funding commitments for the Gahcho Kué Mine were heavily weighted to the first half of the year for winter road supply and capital commitments. 
Meanwhile, a record 1.9 million carats were recovered at an average grade of approximately 2.15 carats per tonne in the second quarter of 2018.
The first half output was 3,6 million carats compared with 2.5 million carats, a year earlier.
The increase in output was as a result of ongoing improvements and optimisation work since commercial production began in early 2017.
Mountain Province was targeting to produce between of 6.3 and 6.6 million carats this year.
Its sales during the second quarter of 2018 was the highest achieved to date in the company's history with C$99.1 million ($76.8 million) recognised as revenue. 
This excludes about C$10.7 million ($8.1 million) in revenue from 43,000 carats in Sale 5 which was not received until July 2018. 

Mathew Nyaungwa, Rough&Polished